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The Right to Money as the Fundamental Right of Individuals in the Coming Digital Economy

Author

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  • Hegadekatti, Kartik

Abstract

Poverty has been a common feature in all human societies since the dawn of civilization. Purchasing power of an individual decides her standard of living. In many cases, it even decides whether a person can live or not (eg: in starvation or malnourishment, victims have no purchasing power to buy calories). As such, the Right to Life philosophy of many National Constitutions comes to naught if the state cannot ensure adequate purchasing power for its people. Thus, an individual should have Right to Money in order to live with respect and dignity. In this paper, we will explore the concept of the Right to Money and how it is linked to the Right to Life. We will see how the Right to Money concept can ensure a continued economic expansion even in a scenario when automation has reached a critical point (i.e Technological Singularity). Right to Money can also ensure continued human dominance over Machine Intelligence as and when they arise. Interestingly the Right to Money leads to another advanced concept – The Right to Machines which will make certain that there is continued synergy between human and artificial intelligence in future and that the Human race stays relevant. The paper concludes as to how human society can be best prepared economically (or otherwise) for a Post-Technological Singularity scenario.

Suggested Citation

  • Hegadekatti, Kartik, 2017. "The Right to Money as the Fundamental Right of Individuals in the Coming Digital Economy," MPRA Paper 82836, University Library of Munich, Germany, revised 16 May 2017.
    • Handle: RePEc:pra:mprapa:82836
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    File URL: https://mpra.ub.uni-muenchen.de/82836/1/MPRA_paper_82836.pdf
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    More about this item

    Keywords

    Right to Life; Economic Right; Money; Life;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • P36 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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